China Electric Vehicle Motor market is anticipated to grow at a CAGR of more than 20% during the forecast period, 2019-2025. The country is the largest electric vehicle market globally with covering around 50% of the global electric sales. Though, in 2019, the government revoked multiple subsidies on electric cars which resulted in a downfall in the sales of the EVs in the second half of 2019. Most of the electric cars and commercial EVs are manufactured domestically in the country which is providing a significant market to the China Electric Vehicle Motor in the country. Moreover, the company has one of the highest reserves of lithium (a key raw material for battery manufacturing), advance technologies for EV manufacturing, and low-cost workforce due to which global automakers are expected to establish their manufacturing unit in the country. For instance, Tesla Inc. constructed its first Gigafactory in Shanghai, China with an initial production rate of 250,000 EVs per year and manufactured its first car in December 2019.
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Key companies contributing to the market include BorgWarner Inc., Continental AG, Hitachi Automotive Systems, Ltd., Nidec Corp., Ningbo volcanic electric co., LTD, Parker-Hannifin Corp., Protean Electric, Robert Bosch GmbH, Tesla Inc., Toshiba International Corp., Valeo SA, WEG Industries, ZF TRW Automotive Holdings Corp. and others. The market players are considerably contributing to the market growth by adopting various growth strategies including new product launch, merger and acquisition, collaborations with government, and technological advancements to stay competitive in the market. For instance, in February 2020, Nidec Corp. announced to invest $910 million to construct new electric vehicle motor plants in the country which will provide around 3.6 million electric vehicle motor annually at a much-reduced price.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
China Electric Vehicle Motor Market by Motor Type
- DC Motor
- AC Motor
China Electric Vehicle Motor Market by Propulsion Technology
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
China Electric Vehicle Motor Market by Vehicle Type
- Passenger Cars
- Commercial Vehicle
- Others (Two-Wheeler)
Company Profiles
- ABB Ltd.
- BorgWarner Inc.
- Continental AG
- Hitachi Automotive Systems, Ltd.
- Nidec Corp.
- Ningbo volcanic electric co.,LTD
- Parker-Hannifin Corp.
- Protean Electric
- Robert Bosch GmbH
- Siemens AG
- Tesla Inc.
- Toshiba International Corp.
- Valeo SA
- WEG Industries
- ZF TRW Automotive Holdings Corp.
The Report Covers
- Comprehensive research methodology of China Electric Vehicle Motor Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting China Electric Vehicle Motor Market.
- Insights about market determinants which are stimulating China Electric Vehicle Motor Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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